Setramar, based in Ravenna, runs a roll-on/roll-off liner service between the Mediterranean and West Africa in a joint operation with Delmas and Grimaldi.
The Italian shipping line has annual revenues of about $34 million.
Setramar will continue to market its services independently of Delmas and will keep its current agency network.
The acquisition will consolidate the presence of Delmas in the West African trades, where it is already one of the largest shipping groups.
In 1999, Delmas acquired O.T. Africa Line, another shipping line in the Europe/West Africa liner trade.
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